Compliance, Legislative & Regulatory Standards

AML/CFT in the Cayman Islands Regime

Lunch & Learn New

Overview

Hong Kong asset management industry has tendency to incorporate funds in Cayman Islands. This course summarises the main provisions of the Guidance Notes on the Prevention and Detection of Money Laundering and Terrorist Financing in the Cayman Islands 2017 and Guidance Notes Amendments 2018. It also covers the procedures and controls in relevant operational areas to comply with the regulatory requirements.

Objective

By the end of the course, participants will be able to understand and comply with the regulatory requirements of the Cayman Islands Monetary Authority.

Content

1. What is money laundering and terrorist financing?
2. Overview of the AMLR and related Guidance Notes in Cayman Islands
3. Effective management and internal controls
4. Risk assessment of customers
5. Identification and verification requirement (Cayman Islands)
6. Certification of documents
7. Simplified due diligence and enhanced due diligence
8. High risk customers
9. Sanctions
10. Reliance on third parties
11. Customer reviews and monitoring
12. Record keeping
13. Reporting of suspicious activities (Cayman Islands)
14. Training
15. Warning signs to mutual funds (Cayman Islands)

Who should attend

Fund managers, asset managers and anyone who would like to have a better understanding of the AML/CFT practice in the Cayman Islands.

Financial Incentive Scheme of the WAM Pilot Programme

This is one of the eligible courses / seminars / conferences under the Financial Incentive Scheme (“The Scheme”) of the WAM Pilot Programme.

Eligible in-service practitioners of the financial services industry could apply for reimbursement of 80% of the course fees, subject to a maximum of HK$7,000 (whichever is lower) upon satisfactory completion of a course / seminar / conference over the three-year period of the Scheme.

Each individual may apply for reimbursement for more than one course / seminar / conference.

Application to reimburse the course fees, together with the required documents, must be submitted within four months from the last day of the course / seminar / conference attended. Please refer to the WAM Pilot Programme website for more details.

Speaker/Course Instructor

Stella LAM
Ms Lam is both an experienced banker, and a seasoned trainer. Having gained a decade of experience in consumer banking and branch management at an international leading bank, she made a shift to the learning and development field - she was a university teaching staff, and she led the personal banking training department in different banks. She is now a consultant to various financial institutions.

Ms Lam graduated from University of Manchester Institute of Science and Technology. She then attained Master in Finance from the City University of Hong Kong and Master in Human Resource Management and Training from the University of Leicester. She is a Certified Financial Planner®, an Associate of the Chartered Institute of Bankers and a Certified Banker. She gained the Professional Certificate for ECF Anti-Money Laundering and Counter-Financing of Terrorism in 2020.

Details

Code
TPRCR19009402
Date & Time
Thursday, 14 Nov 2019 (12:00PM - 2:00PM)
Venue
HKSI Institute Training Centre
Relevant Subject
Type 9 - Asset management
Regulatory Compliance
Language
English
Hours
SFC:2.00, PWMA:2.00